WINTON GROUP Ltd boosted its stake in shares of NOW Inc (NYSE:DNOW) by 218.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,391 shares of the oil and gas company’s stock after buying an additional 459,286 shares during the quarter. WINTON GROUP Ltd owned approximately 0.62% of NOW worth $11,078,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hennessy Advisors Inc. purchased a new position in NOW during the 3rd quarter valued at about $27,284,000. BlackRock Inc. increased its position in NOW by 3.8% during the 2nd quarter. BlackRock Inc. now owns 11,741,100 shares of the oil and gas company’s stock valued at $156,509,000 after purchasing an additional 425,281 shares during the period. Millennium Management LLC purchased a new position in NOW during the 2nd quarter valued at about $15,382,000. Global X Management Co LLC increased its position in NOW by 19.1% during the 2nd quarter. Global X Management Co LLC now owns 27,531 shares of the oil and gas company’s stock valued at $367,000 after purchasing an additional 4,410 shares during the period. Finally, Bank of Montreal Can increased its position in NOW by 117.4% during the 2nd quarter. Bank of Montreal Can now owns 1,347,033 shares of the oil and gas company’s stock valued at $17,956,000 after purchasing an additional 727,326 shares during the period.
A number of research analysts have recently issued reports on DNOW shares. Robert W. Baird reaffirmed a “hold” rating and issued a $17.00 price objective on shares of NOW in a research report on Friday, August 3rd. ValuEngine raised shares of NOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Susquehanna Bancshares set a $16.00 price objective on shares of NOW and gave the stock a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, Stifel Nicolaus lifted their price objective on shares of NOW from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.44.
Shares of NOW stock opened at $14.15 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. NOW Inc has a 52-week low of $9.12 and a 52-week high of $18.56. The company has a market capitalization of $1.70 billion, a PE ratio of -52.41 and a beta of 1.28.
NOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. NOW had a net margin of 1.09% and a return on equity of 2.43%. The firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.80 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts expect that NOW Inc will post 0.33 earnings per share for the current fiscal year.
NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.
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